A New Year’s Resolution: Your Estate Plan
There is no better way to bring together a new year's resolution of health, wealth and family than estate planning. If creating or updating your estate plan isn’t your New Year’s Resolution-see why it should
Protecting Family Real Estate – Options and Considerations
Estate planning for Family Real Estate, including cabins, cottages, lake properties, a second home, or hideaway may present obstacles. Planning by the patriarch and matriarch is the best way to curtail family disagreement and keep the family memories pleasant.
Buy-Sell Agreements: 2 Strategies
BUY-SELL AGREEMENT MECHANICS Stock Redemption vs. Cross Purchase Stock Redemption Buy-Sell Agreement Under a redemption arrangement, your Company agrees to redeem the shares/interest of a deceased owner at his death, and the owner agrees prior to death that his estate will transfer the shares back to the Company for an agreed-upon price. An advantage [...]
Nothing is as UNcertain as the Election and Estate Taxes
Ever since the increase of the estate tax exemption to $5 Million (indexed for inflation in year, making the estate tax exemption $5.45M in 2016), the chatter with the estate tax has simmered. For those who have forgotten about the estate tax, in simple, albeit, incomplete terms, in 2016 you may give away $5.45M to any individual [...]
IDGT: The Intentionally Defective Grantor Trust — More than an Estate Planning Tax Widget
I.D.G.T. - INTENTIONALLY DEFECTIVE GRANTOR TRUST Perhaps one of the most unfortunate vocabulary choices in the estate planning field lies with the “Intentionally Defective Grantor Trust,” or IDGT. While the use of the term defective may cause clients to cringe, there is nothing to fear about the IDGT’s legality or effectiveness. Let’s analyze [...]
Estate Planning Awareness Week October 15-21, 2012
Press-Release-Announcing-Estate-Planning-Awareness-Week
Conversion of Corporation to LLC???
With the increase of LLC formation of the past few years, current small and family-owned corporation owners may be asking themselves... Did I miss out on something? The classic attorney answer is, in short, it depends. The point of the post is to mention 2 key reasons to consider making the conversion. What the post [...]
Estate and Business Planning for Family Farms
The Meaning of Farm Continuation Planning by Attorney Shayna W. Borakove, BORAKOVE | OSMAN LLC. "Attorney Borakove speaks about her personal experience with her own family's farm and how continuation is the goal of succession." Based on my own farm family, and having experienced the successful continuation of our family farm following the death of [...]
Business Maintenance and Adequate Capitalization
Every bit of effort put towards the maintenance of your business is worth it- especially if such maintenance helps shore up the business against claims of third parties. Taking steps to incorporate (i.e., form a corporation) or organize a limited liability company in Wisconsin does not magically make a business owner's personal assets separate and [...]